310

LAWS OF MARYLAND.

depute any other person to vote and act for it, him
or her, as its, his or her proxy, and the commission-
ers aforesaid, or any three or more of them, shall be
the judges of the said first election of directors.

Succession.

SEC. 11. And be it enacted, That to continue the
succession of the president and directors of said
company, twelve directors shall be chosen annually
on the first Monday of May in every year, in the
county or city, in which the principal office of the
said company shall be located by the stockholders
of said company.

Appoint
judges.

SEC. 12. And be it enacted, That the directors of
said company, or a majority of them, shall have
power to appoint judges of all elections, and to elect
a president of said company either from among the
directors or others, and to allow him such compen-
sation for his services as they may deem proper, and
if any vacancy shall occur by death, resignation or
refusal to act of any president or director, before the
year for which he was elected has expired, a person
to fill such vacant place for the residue of the year
may be appointed by the president and directors of
said company, or a majority of them; and the presi-
dent and directors of the company shall hold and

Elections.

exercise their offices until a new election of president
and directors, and all elections which are by this act
or by the by-laws of said company, to be made on a
particular day, or at a particular time, if not made
on such day, or at such time, may be made within
thirty days thereafter.

General meet-
ing.

SEC. 13. And be it enacted, That a general meeting
of the stockholders of said company shall be held
annually at the time and place appointed for the
election of the president and directors of said com-
pany, but they may be called at any time during the
interval between said annual meetings by the presi-
dent and directors, or a majority of them, or by
stockholders owning at least one-fourth of the whole
stock subscribed, upon giving thirty days' public
notice of the time and place of holding the same, in
the same manner as prescribed for giving notice for
opening books of subscription; and when any such
meetings are called by the stockholders, such, notice